TORM (NASDAQ:TRMD) Reaches New 1-Year Low – Here’s Why

TORM plc (NASDAQ:TRMD) reached a new 52-week low during trading on Thursday . The company traded as low as $16.09 and last traded at $16.35, with a volume of 898125 shares trading hands. The stock had previously closed at $16.45.

Analysts Set New Price Targets

Separately, Kepler Capital Markets lowered shares of TORM from a “hold” rating to a “strong sell” rating in a report on Thursday, March 27th.

TORM Trading Down 6.8 %

The company has a current ratio of 2.47, a quick ratio of 2.24 and a debt-to-equity ratio of 0.51. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 1.81 and a beta of 0.20. The firm has a 50-day moving average price of $18.58 and a 200 day moving average price of $22.61.

TORM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Thursday, March 20th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 17.18%. The ex-dividend date of this dividend was Thursday, March 20th. TORM’s dividend payout ratio is presently 27.43%.

Institutional Trading of TORM

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its holdings in shares of TORM by 94.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,366,769 shares of the company’s stock valued at $84,585,000 after buying an additional 2,115,672 shares during the period. Vanguard Group Inc. boosted its stake in TORM by 22.4% in the fourth quarter. Vanguard Group Inc. now owns 1,885,040 shares of the company’s stock valued at $36,417,000 after acquiring an additional 345,463 shares during the period. Two Sigma Advisers LP grew its holdings in shares of TORM by 2.6% during the third quarter. Two Sigma Advisers LP now owns 1,266,900 shares of the company’s stock valued at $43,315,000 after purchasing an additional 32,500 shares during the last quarter. Norges Bank acquired a new stake in shares of TORM during the 4th quarter worth approximately $21,273,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of TORM by 24.3% in the 4th quarter. Renaissance Technologies LLC now owns 561,889 shares of the company’s stock worth $10,929,000 after purchasing an additional 109,916 shares during the last quarter. 73.89% of the stock is owned by institutional investors and hedge funds.

About TORM

TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom. It operates in two operating segments, Tanker and Marine Exhaust. The Tanker segment transports refined oil products, such as gasoline, jet fuel, kerosene, naphtha, and gas oil, as well as dirty petroleum products, including fuel oil.